Where Tony Rowe actually thought Exeter Chiefs investment would come from

Exeter Chiefs chairman Tony Rowe admits that he thought investment in the club would come from the Middle East and not from the United States when he started his search at the start of the year.

The club’s 700-members overwhelmingly voted in favour of a sale to AFC Bournemouth owner Bill Foley and his Black Knight Sports and Entertainment empire on Thursday evening.

The Chiefs will become the second club to attract American investment, following the Cornish Pirates, announcing that Pittsburgh-based Stonewood Capital principals Kenn Moritz and John Tippins had invested a seven-figure sum in them.

Rowe says the Americans are starting to take an interest in rugby as they look to get ahead of the game ahead of the 2031 Rugby World Cup, which will be hosted in the country.

“We’ve had an offer, and members have accepted the offer, but I’ve got to back now, and we’ve got to refine it. Until the deal is done, the deal is not done.

“It’s an American company, and I must say, when we started to look for investors, I thought the money would come from the Middle East, but it’s not. It’s all American.

“I think it’s because the World Cup in 2031is in America. People, who we hopefully tie up with, are good sporting people, long-term investors. We all know we are going to be to franchise in 2030, but each of the clubs has got to spend a bit of money,” Rowe told TNT Sport.

Rowe, who has funded the Chiefs for over 30 years, but at the start of the year admitted he couldn’t do it anymore, which led him to the doors of Black Knight Sports, and he says that investment in the sport is needed.

“It’s very important. Rugby Union in England at the moment is fantastic. The skills of the young guys in the sport is fantastic. It hasn’t been better, but to keep alive, we need to invest in our sport.

“When we were a community club in 1993, when I came along to it. It had no money and was desperate for some cash. Rob (Baxter) and I have tried to hang on to the traditions and culture, and when people come here, it still feels like a rugby club,” he added.